Which of the following contributed to the downfall of the Soviet Union in 1991?
A) public dissatisfaction with low living standards and political repression
B) producing higher-quality goods than were desired by consumers
C) the rapidly increasing standard of living
D) the lack of a strong dictator who could coordinate economic activities
Answer: A
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If the aggregate demand curve shifts rightward, then _____
a. the price level increases and output decreases b. the resulting increase in the price level is usually called cost-push inflation c. the resulting increase in the price level is usually called demand-pull inflation d. the price level increases as long as the aggregate supply curve shifts leftward e. the price level decreases and output decreases
According to John Maynard Keynes:
a. aggregate expenditures (demand) can be forever inadequate to achieve full employment. b. aggregate output (supply) can be forever inadequate to achieve full employment. c. the economy would automatically adjust to full employment in the long run. d. neither aggregate demand nor aggregate supply is a determinant of full-employment real GDP.